Prince Andrew boasted of getting account at Chinese state-owned bank in 2008
21 December 2024, 12:52 | Updated: 21 December 2024, 13:01
Prince Andrew has gloated about a Chinese state-owned bank making "an exception" for him, it's been claimed.
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A leaked email allegedly reveals that the Duke of York, 64, was given preferential treatment and was able to open an account with the Bank of China in 2008.
It's thought the account is based in China and would have permitted Andrew to retrieve payments for business deals outside of the stare of UK authorities.
The revelation puts more pressure on the Duke to reveal his dealings with China.
His “close confidant” Yang Tengbo, also known as Chris Yang, is thought to be a Chinese spy, who has been forbidden from entering Britain as a threat to national security.
Mr Yang denies all wrongdoing, and was a founding member of Pitch@Palace in China, a money-making business venture established with the Duke in 2016.
Yet the leaked email reveals the Duke attempting to open an account in China eight years previously, indicating that his business deals in the country are more extensive than first thought.
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The email was seen by The Telegraph, and sent on January 12 2008 to a British financier.
Andrew wrote: “Just thought you’d like to know that I have been allowed to have a bank account in The Bank of China.
"I don’t know all the details yet but it seems to be happening. Normally you have to present yourself in person but they will make an exception for me.
“Might be useful… That’s all for now.”
The email was signed off “The Duke of York” and sent from his BlackBerry phone.
A leaked diplomatic cable from Sir Sebastian Wood - the UK's China ambassador - in April 2010 also reveals Andrew's plans to regularly visit the country.
It's thought that UK intelligence agencies are investigating the alleged money trail between Yang and the United Front Work Department, which is an arm of the Chinese Communist Party.
Sir Iain Duncan Smith, the former Conservative party leader, has repeatedly criticised China to such an extent that Beijing has imposed sanctions on him.
He said it is vital that the British intelligence services look into who the Duke has been associating with in China.
Sir Iain, Tory MP for Chingford and Woodford Green, said: “When it comes to the Royal family, the Government has to take an interest in what they are doing. The advice going to members of the royals should always be very clear.
"China, Russia and Iran are always looking for ways into the political establishment.
"What I’m concerned about is what we’ve learned in the last week is that the security services didn’t seem to take any interest in what Prince Andrew was doing, in terms of whom he mixed with, and I think that’s a major problem.”
One expert who has undertaken business in China, said: “One reason you might want a bank account is if you were investing directly in Chinese businesses or getting payments from China.
"If this was essentially a domestic bank account allowing them to hold renminbi [or yuan the Chinese currency], that would tend to suggest either that person is receiving payments from a Chinese business or that they were moving money into a Chinese business.”
The Duke of York has not issued a comment or statement in response to a right to reply.
